Protagonist licenses IBD candidate PTG-200 to Janssen

Oral peptide therapeutic company Protagonist Therapeutics Inc. (NASDAQ:PTGX) granted the Janssen Biotech Inc. unit of Johnson & Johnson (NYSE:JNJ) exclusive, worldwide rights to co-develop and co-promote PTG-200, a preclinical candidate to treat inflammatory bowel disease (IBD).

Protagonist is to receive $50 million up front and is eligible for $325 million in clinical milestones and $615 million in regulatory and sales milestones, plus tiered double-digit royalties...